The Indianapolis Colts are going to have a new kicker in 2025 after making the unexpected decision to release Matt Gay on Thursday. The former Pro Bowl kicker is out in Indy just two years after signing a record-setting contract with the team.

The Colts released Matt Gay, just two years after making him the highest-paid free-agent kicker in NFL history.

He had two years remaining on his $22.5 million contract and while the move will save the Colts $2.75 million on this year's salary cap, Indy already was below the cap figure. The bigger problem was Gay not meeting the lofty expectations after making more than 98% of his field goals in 2021-22 when he played for Los Angeles Rams.